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[Audio] The pre-audit exercise is conducted to identify and rectify potential compliance issues. This proactive measure enables banks to ensure a thorough self-inspection, thereby enhancing compliance with bank guidelines and regulatory standards. By doing so, it reduces the number of audit deviations and improves the overall risk perception and risk rating of the branch..
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[Audio] By conducting a pre-audit exercise, banks can take a proactive approach to identifying and addressing potential compliance issues. This allows them to ensure that their internal controls and procedures are robust and effective, reducing the likelihood of non-compliance and improving their overall risk profile. The benefits of this approach include enhanced compliance with regulatory requirements, reduced audit deviations, and improved risk perception and rating..